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there were twin scourges that were predictedded by the deficit hawks. one, we would have rampant inflation if we had continued deficit spending, and the other that interest rates would necessarily skyrocket. neither has happened. >> quite the opposite. the yield on a ten-year treasury is below 2%. the dollar is basically a safe harbor for global sabers the united states and elsewhere because a lot of other places around the world are much more uncertain than the united states. so it is possible for the treasury to borrow at rock-bottom rates right now. there is no inflation in sight as far as the eye can see. and so this whole notion you got to get on with deficit reduction immediately because the economy depends on it is absolutely wrong. the first priority needs to be job growth, growth of the economy over all. we've got to get a recovery that is even stronger than we have now before we turn to serious deficit reduction. >> eliot: every now and again when i engage with a republican, let's take philosophy out of this and let's see how it works. you pre
there were twin scourges that were predictedded by the deficit hawks. one, we would have rampant inflation if we had continued deficit spending, and the other that interest rates would necessarily skyrocket. neither has happened. >> quite the opposite. the yield on a ten-year treasury is below 2%. the dollar is basically a safe harbor for global sabers the united states and elsewhere because a lot of other places around the world are much more uncertain than the united states. so it is...
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Nov 9, 2012
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what they want are cuts in the defense budget and end to the war in afghanistan to reduce the deficit. instead, what had we're seeing is this artificial creation right after we saw a real crisis, we saw a real crisis in hurricane sandy, and that was a real crisis, an artificial crisis is being instituted to steal from us, the middle class and to steal from people in need. >> it's so refreshing to hear a democratic congressman say that. not only do you have the republicans against you it appears you've the administration against you. they can't wait to do this grand bargain. how do progressive democrats fight back to make sure it doesn't happen? >> first make sure people understand there's a third choice. we can't have the republican party saying we want to strip your medicare and social security like they do in the ryan budget which passed the house, and then the democratic party say have half. that doesn't work. there's got to be a third alternative. somebody has to say this, that's just not the way we're going to do it, strip money from the people in need, throw grandma from the tra
what they want are cuts in the defense budget and end to the war in afghanistan to reduce the deficit. instead, what had we're seeing is this artificial creation right after we saw a real crisis, we saw a real crisis in hurricane sandy, and that was a real crisis, an artificial crisis is being instituted to steal from us, the middle class and to steal from people in need. >> it's so refreshing to hear a democratic congressman say that. not only do you have the republicans against you it...
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Nov 9, 2012
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wight to go back to the old tax rates if we want to deal with the deficit reduction, and not willing to bargain with the big three to get there? that's where i think we all to be. this is what we voted for on tuesday. fasten your seat belts, americans. this will come up onally fast. we want to know what you think. tonight's question -- does the president's victory give him more leverage? text a for yes, b for no. and you can always go to our blog. we'll bring you the results later on in the show. >>> joining me tonight is independent senator bernie sanders from vermont. great to have you with us tonight. >> good to be with you. >> are you surprised republicans are already announcing their intentions to obstruct? how else do we interpret that interview that mr. boehner gave? >> no. these guys, the republican party is now an extreme right-wing party. it is owned by their campaign contributors and the millionaires and billionaires of this country. it doesn't surprise me. but the american people have been very, very clear on this issue. when you talk about deficit reduction, at every sin
wight to go back to the old tax rates if we want to deal with the deficit reduction, and not willing to bargain with the big three to get there? that's where i think we all to be. this is what we voted for on tuesday. fasten your seat belts, americans. this will come up onally fast. we want to know what you think. tonight's question -- does the president's victory give him more leverage? text a for yes, b for no. and you can always go to our blog. we'll bring you the results later on in the...
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Nov 9, 2012
11/12
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working with leaders of both parties to meet the challenges we can only solve together reducing our deficit reforming our tax code fixing our immigration system and freeing ourselves from foreign oil we have more work to do. >> this morning the president's senior campaign strategist told the morning joe crew this. >> on this issue of particularly the fiscal cliff, presidents always say i had a mandate, that is a foolish word and it is generally untrue. but the president did campaign all over this country he talked about it in debates and speeches on the need for balance deficit reduction that included new revenues and he was re-elected in a significant way. >>today republican house speaker said this. >> raising tax rates is unacceptable and it couldn't pass the house. i laid out a reasonable way forward to avoid the fiscal cliff. that is putting in, increased revenues on the table and through reforming our tax code. it is time for the house to lay this out. >> you h talk about it even if you believe it is the wrong approach. >> of course we will talk about it. >> talk about it. that is enou
working with leaders of both parties to meet the challenges we can only solve together reducing our deficit reforming our tax code fixing our immigration system and freeing ourselves from foreign oil we have more work to do. >> this morning the president's senior campaign strategist told the morning joe crew this. >> on this issue of particularly the fiscal cliff, presidents always say i had a mandate, that is a foolish word and it is generally untrue. but the president did campaign...
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Nov 9, 2012
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washington is obsessed with the deficit but the deficit wasn't the first issue that he talked about. the first issue he talked about was creating jobs and the programs that he wants to push through for job training and community colleges and the like to help raise people's income and, again, i think that's very true to the constituency that elected him that, yes, people want the long-term fiscal problem solved but right now they are still interested in making sure this economy keeps moving forward. and, again, without claiming he has political capital, that's an issue where i think he's aligned not only with his own constituency but with a lot of other people, too. >> even in victory he reaches for consensus, chris. >> that's absolutely right. and he has gone above and beyond, no matter what the republicans say, he tried so hard to get republicans on board with health care to work with him time and time again and they just rebuffed him from the beginning. we'll see if they behaved this time around. >> we'll see. thank you for your time tonight. have a great weekend. >> thanks, you to
washington is obsessed with the deficit but the deficit wasn't the first issue that he talked about. the first issue he talked about was creating jobs and the programs that he wants to push through for job training and community colleges and the like to help raise people's income and, again, i think that's very true to the constituency that elected him that, yes, people want the long-term fiscal problem solved but right now they are still interested in making sure this economy keeps moving...
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Nov 10, 2012
11/12
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if we are serious about reducing the deficit, we have to combine spending cuts with revenues. that means asking the wealthiest americans to pay more in taxes. that is the only way we can afford to invest in education and job training and manufacturing, the ingredients of a strong upper class and economy. i have put a plan to allow us to make these investments and reduce our deficit by $4 trillion of the next decade. i hope to compromise for new ideas but i refuse to accept any approach that is not balanced. i will not ask students, seniors, more middle-class families to pay down the deficit while people making over $250,000 are not asked to pay more in taxes. this was a question in the election. the majority of americans agree with my approach. we need a majority in congress. they should start by making sure taxes do not go up on the 98% of americans making under $250,000 per year starting january 1. this is something we agree on. the taxes on middle-class families should not increase. congress should permanently extend the middle-class tax cuts as we negotiate a deficit reduc
if we are serious about reducing the deficit, we have to combine spending cuts with revenues. that means asking the wealthiest americans to pay more in taxes. that is the only way we can afford to invest in education and job training and manufacturing, the ingredients of a strong upper class and economy. i have put a plan to allow us to make these investments and reduce our deficit by $4 trillion of the next decade. i hope to compromise for new ideas but i refuse to accept any approach that is...
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Nov 10, 2012
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even as we're negotiating the broader deficit reduction package. let's extend the middle class tax cuts right now. >> eliot: for his part, speaker boehner insisted that the g.o.p. plan which includes no new taxes was the bess alternative while pressuring the president to take charge. >> we can replace the spending cuts extend the current rates paving the way for entitlement reform as well as tax reform with lower rates. this is an opportunity for the president to lead. this is his moment to engage the congress and work towards a solution that can pass both chambers. >> eliot: despite boehner's hard line they believed they could compromise. >> he's a mainstream conservative. the hard right has chastened in a lot of ways. >> eliot: for more on the struggle i'm joined by representative chris van holland, ranking member on the house committee. congressman. thanks for joining us. >> great to be with you. >> eliot: congratulations on your own re-election. now that's behind you. it seems to me that the speaker and president are reiterating are where they
even as we're negotiating the broader deficit reduction package. let's extend the middle class tax cuts right now. >> eliot: for his part, speaker boehner insisted that the g.o.p. plan which includes no new taxes was the bess alternative while pressuring the president to take charge. >> we can replace the spending cuts extend the current rates paving the way for entitlement reform as well as tax reform with lower rates. this is an opportunity for the president to lead. this is his...
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Nov 9, 2012
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there's no way you can actually, again, get the deficit under control when we want to get the deficit under control. there's no way you can do that with limits on deductions and loopholes. there does have to be an increase in the marginal rate on the very rich. that's something republicans don't want to admit. what they are counting on is this whole supply-side mythology that if you simply keep taxes low on the rich, the economy grows faster and that growth almost by magic in fact, it is magic creates enough revenues to get you out of any kind of budget deficit problem. that's not going to work. what the president needs to do is stick to his vision. tax cuts do have to be limited to the middle class. the wealthy they don't need the tax cuts. if they don't get the tax cuts, the cbo said today that's okay. we're still going to have as much economic growth, almost as much, as much job creation, even if the wealthy are excluded from the bush tax cuts. that's the package that has to be -- the president's package and again, he's got to make it very clear that jobs and economic growth are th
there's no way you can actually, again, get the deficit under control when we want to get the deficit under control. there's no way you can do that with limits on deductions and loopholes. there does have to be an increase in the marginal rate on the very rich. that's something republicans don't want to admit. what they are counting on is this whole supply-side mythology that if you simply keep taxes low on the rich, the economy grows faster and that growth almost by magic in fact, it is magic...
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Nov 11, 2012
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i'm not going to ask students and seniors and middle-class families to pay down the entire deficit, while people like me, making over $250,000 aren't asked to pay a dime more in taxes. this was a central question during the election. it was debated over and over again. and on tuesday night, we found out that the majority of americans agree with my approach. >> couldn't be more direct in that. i like the clarity of it today. he said, i'll negotiate it, but not on this. >> two years ago, when he cut that deal to extend the tax cuts in return basically for a second stimulus, i thought he was going deal with at the time. he said exactly this. last time, i'm going to do this. i'm taking hostages, i'm getting more return. >> he also said this is what the election is about. >> and it was. if you look at the exit polls, you look at the numbers. mandate is a big word you used at the top of the show, but he won. at some point, he has shown he's been willing to compromise in democratic policies much more than the republicans. he will give entitlements but he has to give something in return. >> dee d
i'm not going to ask students and seniors and middle-class families to pay down the entire deficit, while people like me, making over $250,000 aren't asked to pay a dime more in taxes. this was a central question during the election. it was debated over and over again. and on tuesday night, we found out that the majority of americans agree with my approach. >> couldn't be more direct in that. i like the clarity of it today. he said, i'll negotiate it, but not on this. >> two years...
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reducing our deficits, reforming our tax code, fixing our immigration system, freeing ourselves from foreign oil. we've got more work to do. >> cenk: all right look, a lot of that sounds good and he talk talked about climate change as well, last night great no problem. today, that's a different story. how would i react if i'm president obama? with this clear mandate--say it with me, mandate mandate mandate. that's what i tell to the republicans. john boehner came in today. >> involves making real changes to the financial structure of the entitlement programs and close loopholes and deductions working together to create a fair simpler cleaner tax code we can give our country a stronger healthier economy. a stronger economy means more revenue which is what the president seeks. because the american people expect us to find common ground we're willing to accept some additional revenues via tax reform. >> cenk: now that sounds good, right? additional revenues, it sounds like--no no, no. in other words what he's saying i might close some of the loopholes and then i'll put loopholes within
reducing our deficits, reforming our tax code, fixing our immigration system, freeing ourselves from foreign oil. we've got more work to do. >> cenk: all right look, a lot of that sounds good and he talk talked about climate change as well, last night great no problem. today, that's a different story. how would i react if i'm president obama? with this clear mandate--say it with me, mandate mandate mandate. that's what i tell to the republicans. john boehner came in today. >>...
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Nov 9, 2012
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saying that folks at the higher end should pay more to reduce our deficit because if we don't ask them to chip in more, it means everybody else gets hit harder. >> you heard what he said. we're not going to raise taxes on small business. and for republicans, small business is pretty much anybody making over $250,000 a year. . >> what we learned from the debates is all businesses include companies like bain capital. they include some of the fortune companies. they use the language of small business to provide tax breaks for wealthy entities. but if you really care about the economy, which we all should, then we e need to look at things like extending the payroll tax cut for the year or its e equivalent. the nonpartisan group has said that's much more important to helping the fragile economy than providing a few folks at the top with another tax break. so we should be looking at those kind of measures that put a little more money in the pockets of 160 million americans who will go out and spend it rather than providing another tax break to those at the top. >> one of the toughest questio
saying that folks at the higher end should pay more to reduce our deficit because if we don't ask them to chip in more, it means everybody else gets hit harder. >> you heard what he said. we're not going to raise taxes on small business. and for republicans, small business is pretty much anybody making over $250,000 a year. . >> what we learned from the debates is all businesses include companies like bain capital. they include some of the fortune companies. they use the language of...
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as he said he does have his own very specific plan that reduces the deficit by $4 trillion. that does it in a balanced way. that ensures that we can continue to invest in education and infrastructure and research and development. the elements that are so key it to sustained economic growth. but that he's not wedded to every detail of that plan. he understands that the message of the election was that the american people want action not political posturing and argument. they want action and there really is in the bill that passed the senate an opportunity to do some very good work for the american people. very good work for the american economy right away to send a signal that cooperation and compromise is possible. >> speaker boehner has made it clear, even though he has said that he would put revenue on the table, that he would not increase rates. so does the president believe that you can achieve the revenue goals that he wants and increase the effective rate of what wealthier americans are paying without necessarily increasing the marginal rate? >> let's be clear about tw
as he said he does have his own very specific plan that reduces the deficit by $4 trillion. that does it in a balanced way. that ensures that we can continue to invest in education and infrastructure and research and development. the elements that are so key it to sustained economic growth. but that he's not wedded to every detail of that plan. he understands that the message of the election was that the american people want action not political posturing and argument. they want action and...
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Nov 9, 2012
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it took a big test but it did not pass that test, two very deficit things. the lesson of this election for republicans appears to be all that stuff we ran on, it totally worked. think about what determines what the republican party does next. what determines how they fix their political problems. the question of who is going to be the new face of the republican party and how they will course correct after this disastrously bad election for them, it all depends how they assess what just went wrong and why it went so wrong. what do they think their problem is that caused the country to reject them so emphatically in 2012. the signs how their self-assessment is going so far are not promising. wednesday, the day after the election, mr. romney had breakfast with some of his richest donors. what does he think happened in the election, why does he think he lost. he told the donors he believe hurricane sandy stunted his momentum in the final week of the campaign. karl rove wrote in this "wall street journal" yesterday president obama was lucky hurricane sandy happen
it took a big test but it did not pass that test, two very deficit things. the lesson of this election for republicans appears to be all that stuff we ran on, it totally worked. think about what determines what the republican party does next. what determines how they fix their political problems. the question of who is going to be the new face of the republican party and how they will course correct after this disastrously bad election for them, it all depends how they assess what just went...
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Nov 14, 2012
11/12
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cutting social security which by the way has nothing to do with the deficit. cutting medicare benefits, medicaid benefits or education. >> eliot: look, the ratio that i referenced earlier where last year, the bargain was $10 of cutting for $1 of revenue, just seems an sorted. it was ethically wrong. wrong in every level back then. now it seems politically absurd as well. has the white house at least indicated to the republicans guys, that ratio is going to be flipped on its head. >> what the president recently talked about was two and a half to one before the election. i don't think that makes sense. i think for every dollar that you cut in spending, you've gotta raise $1 in revenue. that's the position that i strongly believe in. >> eliot: senator i think the vast majority of the public would buy your articulation of it as well. the idea today is that seems to have gained a little traction, oddly, is the one that mitt romney put forward of limiting to called deductions to the bucket of $25,000 and you can allocate as you wish. i remember when he mentioned tha
cutting social security which by the way has nothing to do with the deficit. cutting medicare benefits, medicaid benefits or education. >> eliot: look, the ratio that i referenced earlier where last year, the bargain was $10 of cutting for $1 of revenue, just seems an sorted. it was ethically wrong. wrong in every level back then. now it seems politically absurd as well. has the white house at least indicated to the republicans guys, that ratio is going to be flipped on its head. >>...
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Nov 11, 2012
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at least $1.1 trillion a year deficit. the issue is whether you are going to solve it by reducing cost or raising taxes. i think they are down to 17% and the payroll tax holiday, if it went away, 18. so, um, um, i think that -- well, i forgot what i was going to say. >> you are saying look, the issue is spending. >> the negotiation has to be between taxes and spending. it doesn't matter whether you tax or borrow money. it's a tax increase. when you talk of the $800 billion spending, it's a one-time -- >> you are rational. >> i am. there's a goalpost. i'm half way in between. i think some of it is built in. >> what is your idea of ratio here? >> i would love to see 2 to 1, or 3 to 1. you know, because you get an increase in unemployment benefits. spending cuts are low because you get 4.5% reduction in growth. they are predicting a bounceback. every year they predict a bounceback that never comes. >> i notice there's a one in the ratio, which is the key part to the negotiation, right? i'm serious. if there's no one, if there
at least $1.1 trillion a year deficit. the issue is whether you are going to solve it by reducing cost or raising taxes. i think they are down to 17% and the payroll tax holiday, if it went away, 18. so, um, um, i think that -- well, i forgot what i was going to say. >> you are saying look, the issue is spending. >> the negotiation has to be between taxes and spending. it doesn't matter whether you tax or borrow money. it's a tax increase. when you talk of the $800 billion spending,...
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Nov 10, 2012
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i'm not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me are not as to pay a dime more in taxes. >> the current congress still has work to do. and planned cuts to domestic and military spending. follow all the floor debate starting tuesday at 2:00 p.m. eastern with white house coverage on c-span and the senate on c-span2. >> now i discussion on the impact of the african-american vote in the 2012 election including president obama's victory. this is just under one hour. >> good afternoon. i am president and ceo of the joint senses for political and economic study. this is one of the nation's leading public policy institutions. it is the only one that is focused primarily on issues of concern to african-american and other people of color. i want to welcome you here today to our assessment of the impact of impact of african- american vote in the 2012 election. all this was decisive, it was a close arrest in terms of popular vote and the fact that the margins or closed in quite a few of the critical battleground states. analysts
i'm not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me are not as to pay a dime more in taxes. >> the current congress still has work to do. and planned cuts to domestic and military spending. follow all the floor debate starting tuesday at 2:00 p.m. eastern with white house coverage on c-span and the senate on c-span2. >> now i discussion on the impact of the african-american vote in the 2012 election including...
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. >> chris van hollen, a member of the supercommittee on deficit reduction. he knows a lot. good to see you in person. >> it's great to be here. >> we're all running on fumes and now, we have to get on those fumes and solve this problem because the market is right. it is a crisis and it has to be dealt with. what i don't understand is, a little change in the senate, but -- why is it going to happen now. >> first of all, a lot of the republicans in congress have been focused primarily, maybe we can move beyond that objective. the second is the structure of the situation. the cliff creates big risks, also, opportunities. because not resolving the fiscal cliff will create problems for the country. we need to focus on two things. we need to accelerate the recovery and we need to act now to come up with a balanced, long-term plan to reduce the deficit. >> obviously, those are the, how we do that is the big question. now, john boehner had something to say today about revenue. by revenue, everybody, we're talking about, well, that's the whole point. there's different things we coul
. >> chris van hollen, a member of the supercommittee on deficit reduction. he knows a lot. good to see you in person. >> it's great to be here. >> we're all running on fumes and now, we have to get on those fumes and solve this problem because the market is right. it is a crisis and it has to be dealt with. what i don't understand is, a little change in the senate, but -- why is it going to happen now. >> first of all, a lot of the republicans in congress have been...
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Nov 8, 2012
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it's taxes an an investment, tax toss deal with big issues like the deficit in a fairway, but you know, that just -- the conventional wisdom for the last 30 years, at least since reagan is that democrats cannot do this thing. >> now, when you look at the republicans and they have a tough time viewing this as a man dade, at least t. the republican party has lost the popular vote in the last five of six elections, and it hasn't won as many electoral votes as president obama did in 24 years. i mean, this is amazing, since reagan, we have not seen this electoral vote yet. >> we have not seen numbers like that, yet i am not sure they're totally getting the memo. i have speaker boehner talking about the fact that as they approach january, they're not going to vote for anything that puts additional tax revenue on the table. if you are in fact right, which i believe you were, that could be the number one takeaway beyond demographics. then you look at the tea party element, you know, only 4 of the 16 candidates endorsed by the tea party expressed one in this election. so they should be able to
it's taxes an an investment, tax toss deal with big issues like the deficit in a fairway, but you know, that just -- the conventional wisdom for the last 30 years, at least since reagan is that democrats cannot do this thing. >> now, when you look at the republicans and they have a tough time viewing this as a man dade, at least t. the republican party has lost the popular vote in the last five of six elections, and it hasn't won as many electoral votes as president obama did in 24 years....
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Nov 12, 2012
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are you serious, you're going to take it out of those people and have them pay down the deficit? no. but since we all agree that the middle class tax cuts should not be eliminated, he's right, let's just go ahead and do that right now. but i do not see this president selling out not after 332 electoral votes. no, he is not going to do that. >> now, cynthia, the fact is that the congresswoman is right, according to nbc exit polling, americans want to see the wealthy taxes raised when you look at the k3i9 polls. 70% of democrats, 59% of independents, 42% of republicans. so it would be the will of the american people when you look at the exit polls of what they want. and yet we're faced with the fact that republicans have to look at though they maintain the house 54.3 billion voted democrats to go to congress, 53.8 million voted for republicans. actually more people voted for democratic members of congress than republicans even though we didn't gain the majority on the democratic side. >> indeed. and it is absolutely true that the president campaigned on this throughout the past yea
are you serious, you're going to take it out of those people and have them pay down the deficit? no. but since we all agree that the middle class tax cuts should not be eliminated, he's right, let's just go ahead and do that right now. but i do not see this president selling out not after 332 electoral votes. no, he is not going to do that. >> now, cynthia, the fact is that the congresswoman is right, according to nbc exit polling, americans want to see the wealthy taxes raised when you...
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Nov 14, 2012
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president obama took a strong stand today at his news conference on taxes, on deficits, on immigration. we'll talk about all that later in the show. but we begin with the big story of president obama's smackdown of republicans who have been playing politics with the tragic killings at our consulate in libya. senators like john mccain and others on the right wing have been trying to have a scandal with the tax against the president's ambassador to the u.n. susan rice. today, the president called and he said, i have had enough. >> let me say specifically about susan rice she's done exemplary work. she represented the united states and our interests in the united nations with skill and professionalism and toughness and grace. as i have said before, she made an appearance at the request of the white house in which she gave her best understanding of the intelligence that had been provided to her. if senator mccain and senator graham and others want to go after somebody, they should go after me. i'm happy to have that discussion with them. but for them to go after the u.n. ambassador who had
president obama took a strong stand today at his news conference on taxes, on deficits, on immigration. we'll talk about all that later in the show. but we begin with the big story of president obama's smackdown of republicans who have been playing politics with the tragic killings at our consulate in libya. senators like john mccain and others on the right wing have been trying to have a scandal with the tax against the president's ambassador to the u.n. susan rice. today, the president called...